Yuma
Suns are my Kryptonite!
Judge reverses decision; trade to move forward
Paul Coro
The Arizona Republic
Aug. 12, 2005 12:17 PM
A Boston judge reversed a ruling today in the Atlanta Hawks ownership battle, allowing co-owner Steve Belkin to be replaced as governor and for Phoenix’s sign-and-trade deal involving guard Joe Johnson to move forward. The trade could be final as early as today or as late as a week.
After listening to an emergency motion to dissolve the injunction he granted Tuesday, Judge Allan van Gestel ruled in favor of the eight Hawks owners who wanted to oust Belkin as governor because he was blocking the Johnson trade against their wishes.
The judge considered an affidavit that was submitted Wednesday by NBA Commissioner David Stern, who gave his approval of Belkin’s removal and argued that Belkin’s cancellation of the trade call was an action that legally bound the franchise.
Atlanta will replace Belkin as governor with co-owner Michael Gearon Jr., who then will approve the deal made July 31. Johnson will sign a five-year, $69.6 million contract, which includes a $20 million payment up front, with Phoenix and then be traded to the Hawks in exchange for guard Boris Diaw, two first-round draft choices with some lottery protections and a $4.9 million trade exception.
“The dissolution, however, is not intended and should not be construed as a ruling on the issues,” van Gestel wrote.
By van Gestel’s ruling, it appears finalization of the trade may take as long as another week. He referred to how the other owners still need to go through the proper channels in the partnership’s agreement.
That includes giving Belkin a written notice from the Hawks’ Board of Managers with a majority board vote. He can be moved if the “removable action” has not been rescinded within five days of the notice, according to the ownership agreement.
Another week, with amnesty players being able to be signed on Monday! The best we could hope for, is the other owners now having leverage to get Belkin to go along with them and OK the deal.